As Malaysian businesses diversify their supply chains and expand into new markets across ASEAN, North Asia and the Middle East, OCBC Bank (Malaysia) Berhad (OCBC Bank) has expanded its cross-border payment service, OCBC World Transfer, to support payments in 67 currencies, up from 26 previously.
The enhancement gives businesses greater flexibility when managing international transactions, allowing them to pay overseas suppliers directly in their preferred local currencies.
The expanded currency offering includes currencies such as the Vietnamese Dong, South Korean Won and United Arab Emirates Dirham, supporting trade, procurement and other commercial activities across key growth markets.
Supporting Malaysian Businesses Expanding Overseas
The expansion comes as the international business activities of OCBC’s customers continue to diversify.
While China, Singapore and Hong Kong remain among the bank’s key overseas payment destinations, customers are increasingly conducting transactions across a wider range of markets.
The enhanced OCBC World Transfer service is designed to help businesses pay suppliers in their preferred local currencies, reducing foreign exchange friction and streamlining cross-border payment processes.
The bank said this can also support stronger relationships between Malaysian businesses and their overseas suppliers.
Digital Overseas Transfers Grow 50%
The increased demand for cross-border payment solutions comes alongside greater adoption of digital banking among OCBC’s business customers.
Digital overseas transfers by OCBC customers grew 50% year-on-year as at June 2026, with transactions extending to a broader range of international markets.
“Businesses today are expanding well beyond traditional trade corridors. They are sourcing from new supplier markets, entering new customer segments and managing increasingly complex cross-border payment requirements,” said Jeffrey Teoh, Head of Wholesale Banking, OCBC Bank. “We are seeing this trend reflected in our customers’ activities, with digital overseas transfers growing 50% year-on-year and extending to a broader range of markets.”
He added that the expansion of supported currencies is intended to make it easier for businesses to pay and be paid across more countries.
“Together with our regional network across ASEAN and Greater China, we are well-positioned to support customers as they deepen existing trade relationships and pursue new opportunities overseas,” he said.
Real-Time Payment Tracking and Foreign Exchange Support
Businesses using OCBC World Transfer can also benefit from competitive foreign exchange rates and real-time payment tracking, providing greater visibility over international transactions.
OCBC Network Transfer enables customers to send funds to OCBC beneficiaries in six currencies at preferential pricing, with the full amount received by the beneficiary.
Together, OCBC World Transfer and OCBC Network Transfer form part of the bank’s broader digital banking ecosystem available through OCBC Velocity.
Managing International Payments Through One Platform
OCBC Velocity allows companies to manage their accounts and foreign currency positions, perform foreign exchange conversions, manage collections and access trade-related banking services through a single digital platform.
The growing adoption of digital banking is reflected in the fact that more than 90% of OCBC’s cross-border payments are conducted through OCBC Velocity.
With Malaysian businesses increasingly looking beyond traditional trade corridors, OCBC said its expanded currency coverage and digital banking capabilities are intended to support companies as they manage international payments, strengthen overseas supplier relationships and pursue new opportunities in global markets.
